Chadwick Financial Group

(732) 520-2221

5 Benefits of Working in Retirement

In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.1 As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits.

1. AARP.org, February/March 2015

Mental Benefits

Working during retirement helps maintain mental agility as you learn new skills. Staying engaged in work helps build "mental muscle," which can lessen the risk of developing dementia and Alzheimers2 and ward off the signs of aging.

2. Forbes, 2017

Physical Benefits

Staying active during retirement years is crucial for continued health. Whether you choose to work full time, or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.

Financial Benefits

Besides the obvious extra income, working during retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.3 Finding a strategy that works for you can truly pay off.

3. Social Security Administration, 2017

Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your later years.

4. Association for Psychological Science, 2017

Social Benefits

One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.

Share this with your friends!

5. BenefitsPRO, 2017

In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.1 As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits.

1. AARP.org, February/March 2015

Mental Benefits

Working during retirement helps maintain mental agility as you learn new skills. Staying engaged in work helps build "mental muscle," which can lessen the risk of developing dementia and Alzheimers2 and ward off the signs of aging.

2. Forbes, 2017

Physical Benefits

Staying active during retirement years is crucial for continued health. Whether you choose to work full time, or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.

Financial Benefits

Besides the obvious extra income, working during retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.3 Finding a strategy that works for you can truly pay off.

3. Social Security Administration, 2017

Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your later years.

4. Association for Psychological Science, 2017

Social Benefits

One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.

There are a number of ways to withdraw money from a qualified retirement plan.

Download Our Free App

We've built a handy mobile app that allows you to ask us questions on-the-go and to receive helpful notifications from us.

Have A Question About This Topic?

Name

EmailAddress

Question

Thank you!Oops!

Check the background of your financial professional on FINRA's BrokerCheck.

The content is developed from sources believed to be providing accurate information.
The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals
for specific information regarding your individual situation. Some of this material was developed and produced by
FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named
representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and
material provided are for general information, and should not be considered a solicitation for the purchase or
sale of any security.

Copyright 2019 FMG Suite.

Securities offered through American Portfolios Financial Services, Inc. (APFS) Member FINRA/SIPC. Investment Advisory Services offered through American Portfolios Advisors, Inc.(APAI) an SEC Registered Investment Advisor. Chadwick Financial Group is not affiliated with APFS and APAI.